Insteel Industries, Inc. (IIIN) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone. Thank you for joining us, and welcome to the InSteel Industries third quarter 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to H. Woltz, President and Chief Executive Officer. H., please go ahead. Thank you. Good morning. Thank you for your interest in InSeal, and welcome to our third quarter 2026 conference call, which will be conducted by Scott Jafroodi, our vice president, CFO, and treasurer. Before we begin, let me remind you that some of the comments made in our presentation are considered to be forward-looking statements that are subject to various risks and uncertainties, which could cause actual results to differ materially from those projected. These risk factors are described in our periodic filings with the SEC. Despite falling short of our expected financial performance in Q3, we believe the upturn in business activity we reported previously is still intact. I'll turn the call over to Scott to comment on our financial results. And following his comments, I'll pick the call back up to discuss our business outlook. Thank you, H. And good morning to everyone joining us on the call. As reported in our earnings release this morning, third quarter results benefited from higher average selling prices and improved shipment activity. However, those benefits were more than offset by higher costs, resulting in net earnings of $9 million or $0.46 per share compared with $15.2 million or $0.78 per share in the prior year quarter. Despite the decline in earnings, underlying demand trends remain generally favorable. The third quarter shipments incr...